Skip to main content

About your Search

20121006
20121014
Search Results 0 to 11 of about 12 (some duplicates have been removed)
of ronald reagan and tip o'neill who were about as far apart politically as you could get, but they were able to come together and find common ground on some of the thorny issues that existed economically in the 1980s. that's not happening today because so many of the politicians view these issues as defining who they are personally. they take it personally, and that's a problem right now. don't you think? >> yeah, i think so. i also think that we're at a very different moment. when we talk about the kind of spending back then, we were arguing a lot about defense spending under ronald reagan. >> absolutely. >> we really needed to be arguing more about entitlement spending, which never got taken care of. now we have this huge, huge problem where people expect so much. they've been promised things. that's what makes it extremely difficult. >> let's face it. the stakes are much, much higher now. the zeros we're talking about -- >> are huge. >> have a "t" in front of them. we're talking trillions of dollars on an annual basis right now. by the way, more of steve's interview in the coming 30
, should be ashamed of themselves. >> this from ronald reagan's old budget director, architect of the largest tax cut in american history? >> it's rank demagoguery. we should call it for what it is. >> welcome to 60 minutes on cnbc. i'm morley safer. in this edition, we look at two of the topics dominating the american economic landscape: jobs and taxes. first, we meet with president obama's so-called jobs czar. then we visit a struggling town in the heartland. and finally, we take a look at a controversial income tax initiative in washington state. in the first decade of the 21st century, big american firms cut around 3 million jobs in the u.s., while adding almost as many overseas. no company went global more aggressively than general electric, the conglomerate that makes everything from refrigerators to m.r.i. machines to jet engines. yet as lesley stahl reported in october 2011, when president obama was looking for someone to help get americans back to work, he recruited a most unlikely candidate: the republican ceo of general electric, jeff immelt. >> the mood is dark. peo
in '85. >> well, look aat athe job -- >> thank ronald reagan. >> absolutely. that's why romney's tax plan is want plan we need. lower rates broaden the base. it worked in '86, '87, '88. worked in '81 and '82. let's pause there for a second. >> thanks for the lead-in about reagan. >> romney has victory in the deba debate. every single poll shows he's picked up 5, 6, 7 points. some of these local battleground states picked up 8, 9 points. is does that change your stock market outlook from bear to bull? >> you get rid of obama care and 3.8% tax on investment income and get the tax on medical device makers, larry. >> i will bet you $20 right now. i'll make a romney $10,000 bet that obama care is not repealed. >> i'll bet you it will be repealed, but i'll buy a gift for your new daughter. >> thank you. >> if romney wins, which was not expected a week ago but is now more expected, if he wins what is the stock market impact? is it greater than earnings and the federal reserve? how do you assess a romney victory? >> what becomes important is the effect on capital gains and dividend taxes. we as i
know what tax revenue did under ronald reagan? it went up 100% even though they cut taxes dramatically. tax revenue doubled in eight years. don't forget, you can catch the vice presidential debate tomorrow night here on cnbc beginning at 7:00 p.m. eastern time. >> let's go to jackie deangelis with this market flash. >> good afternoon, guys. taking a look at shares of walmart. of course, it hit record highs earlier in the session. coming off just a little bit. despite the fact that earlier the cfo reiterated fiscal 2013 sales guidance, maybe investors were looking for him to boost that up. he did reduce cap ex spending for 2013. the new reach, 12 to $13 billion. that could have something to do with it as well. the stock still higher on the day. just a little bit of a selloff. bill. >> i think those costco numbers helped the retailers today as well. a lot of the big box retailers doing well today. we're headi ining toward the cl. about 25 minutes left. we're hovering near the lows of the session with the dow down more than 130 points. >> the latest big company raising its dividend. why i
heard in the 1980s, for example? we keep hearing about the relationship between ronald reagan and tip o'neill and their willingness to compromise, even though they were about as far apart politically as you could get. >> bill, i agree with what you said and what rick said about that. i think it's wrong to say they're honest and they're the way they are because they're not in office anymore. i think what's more correct is they both come from an era where you fought, and you fought hard. but once the vote was taken, you know, they were kind of done. it wasn't really a scorched-earth policy. i grew up in a household where there were many politicians held in high esteem. they were guys like jacob javitz who were held in high esteem. >> reread "alexander hamilton." there's never been civility in politics. >> that comes and goes. that's a cyclical situation. we had a civil war. that was the most contentious period in the history of our country. >> that doesn't make it right. >> i'd like to bring up one additional point. two other things were brought up that we haven't really talked about. one
the difference between rising and falling take home pay, like they get that, and this was a point ronald reagan made many years ago. you get lower tax rates. your take home pay for education, for your work, for your home, for your mortgage, that really matters. i hope, and i'm going to ask you, will ryan follow in romney's footsteps, because i thought for the very first time romney really made that case last week, and it's helped him shoot up in the polls. >> oh, i think he l.as you know, paul ryan worked for jack kemp at empower america. he worked for castin who is one of the original supply-siders. he gets this stuff in the very heart of his being, and it's an important story to tell that in fact, if you look at the price of gasoline. obama has failed. if you look at the unemployment rate, obama has failed. the answer is not austerity. the answer is growth. if you have growth, can you mop up a lot of your problems, be prudent about spending, get back to a balanced budget which has only occurred in your lifetime because of a republican congress. >> last one, we're kind of short of time, but if
in europe since 1945 i think i would credit the u.s. military, ronald reagan and the a-bomb. >> right. >> more than i would the eu and the bureaucrats in brussels. >> we bail them out. we protectioned them all those years and reagan's the guy that ended communism, but the head of the peace prize committee is blaming the united states for the european economic crisis. i read "the new york times" story incredulously. he said the demise of lehman brothers is the responsibility of the european crisis, not their overspending and not their overtaxes and not their excess government and not their excess entitlements, jimmy. it's all because of lehman brothers. >> listen. you have countries that are following every wrong thing to do to run a good economy and even what they're doing now, they're raising taxes. this is like a death wish and a suicide attempt by europe and not america's fault. >> i want to ask you which is worse? the peace prize to president obama in 2009 or giving the peace prize to the european union, which is worse? >> as a gambler would say that is a pick 'em situation. >> yo
're doing? >> [ inaudible ]. >> look at what ronald reagan and tip o'neill did, they worked together out of a framework to lower tax rates and broaden the base, and they worked together to fix that. what we're saying is, here's our framework. lower tax rates 20%. we raise about $1.2 trillion through income taxes. we forgo about $1.1 trillion in loopholes and deduck haddions. what we're saying is deny those loopholes and deductions to higher income taxpayers so more of their income is taxed which has a broader base of taxation. >> can i translate? >> we can lower tax rates across the board. here's why i'm saying this. what we're saying -- >> i hope i get time to respond to this. >> you'll get time. >> we want to work with the congress on how best to achieve this. that means successful. >> no specifics again. >> what we're saying is lower tax rates 20%, start with the wealthy, work with congress to do it. >> you guarantee this math will add up. >> six studies have verified that this math adds up. >> vice president biden. >> look -- >> let me translate. let me have a chance to translate. >>
something like that tonight. we'll see. >> what will they say now? >> you're no probably ronald reagan or something. >> meanwhile the latest national polls may show president obama and mitt romney are in a tight race, but if you believe the 7-eleven indicator, the election may have already been decided. yes, that's right, the convenience store chain is once again running a promotion where it sells coffee in democrat blue cups with obama's face and republican red featuring romney. so far customers favor obama by a 60/40 margin. it has correctly predicted the winner of the last three u.s. elections. i'd like to know if it's only been run in the last three elections. >> still not a huge sample size. meanwhile pizza hut is offering a lifetime, yes, a lifetime of fr free -- life time qualifying as 30 years to anyone who asks sausage or pepperoni in the debate. >> of course we've been having our own debate so whether you should -- they're offering whether free pizza a week for 30 years or or $15,600 in cash. >> is it one pizza is week? >> a large pizza. so you said you would take the cash. i
been done before. >> it's been done a couple times actually. ronald reagan -- >> now you're jack kennedy. >> so was there a clear winner? 130,000 votes, and joe biden is leading with more than half. joining us for more, julian epstein and boris former aide to mccain/palin campaign in 2008. so boris, did paul ryan succeed here? has this been a game changing movement, has it picked up on the momentum that romney started with last week? >> it didn't need to be a game changing movement. what paul ryan needed to do was make his point to america that he is ready to be vice president and president if need be. and he absolutely did that. he was strong, he was resolute, and he stood up to very childish attacks from joe biden. some of the attacks were disappoint willing, the laughter, the smirking. it was very unvice presidential and unprofessional and at the end if you noticed when it was time to give their closing remarks, joe biden did not thank paul ryan, but paul ryan thanked joe biden. so on the overall picture, paul ryan did it great. does it help the momentum, it does. does it help
was trying to get the point across that he can lead the way ronald reagan led, and that is with america in front and not from behind. >> well said. well said, senator. >> i'm wondering, senator, whether we start to see some shift in sentiment, this has been a strong suit for the president i guess after the death or killing of osama bin laden, most people thought that maybe governor romney should stick with domestic issues. you think this is a fertile field for making some gains? >> oh, i think so, and if you'll indulge me for a second this libya debacle where five days after what was clearly an al qaeda affiliated terrorist attack, they send out our u.n. ambassador to tell everybody, on all major news shows that this was a spoon stainio iospontaneo demonstration bred by a hateful video. you don't have spontaneous demonstrations with mortars and rocket-propelled grenades. look, iraq, because we didn't leave a residual force behind, al qaeda's back and iranians are exerting their influence. in afghanistan because the president overruled his military advisers time after time we're seeing t
Search Results 0 to 11 of about 12 (some duplicates have been removed)